For each of the following cases determine the ending balance in the inventory account. (Hint....

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Accounting

For each of the following cases determine the ending balance in the inventory account. (Hint. First, determine the total cost of inventory available for sale. Next, subtract the cost of the inventory sold to arrive at the ending balance.)
a. Jill's Dress Shop had a beginning balance in its inventory account of $47,000. During the accounting period, Jill's purchased $96,000 of inventory, returned $6,400 of inventory, and obtained $890 of purchases discounts. Jill's incurred $1,280 of transportation-in cost and $740 of transportation-out cost. Salaries of sales personnel amounted to $38,000. Administrative expenses amounted to $42,600. Cost of goods sold amounted to $96,300.
b. Ken's Bait Shop had a beginning balance in its inventory account of $10,800. During the accounting period, Ken's purchased $48,100 of inventory, obtained $1,480 of purchases allowances, and received $500 of purchases discounts. Sales discounts amounted to $780. Ken's incurred $1,180 of transportation-in cost and $400 of transportation-out cost. Selling and administrative cost amounted to $13,700. Cost of goods sold amounted to $36,700.
\table[[Cost of goods available for sale,\table[[Jill's Dress],[Shop]],\table[[Ken's Bait],[Shop]]],[Ending Inventory,,]]
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